Can you deduct realtor fees from capital gains?

Can you deduct realtor fees from capital gains?

“You can deduct any costs associated with selling the home—including legal fees, escrow fees, advertising costs, and real estate agent commissions,” says Joshua Zimmelman, president of Westwood Tax and Consulting in Rockville Center, NY. This could also include home staging fees, according to Thomas J.

Do I pay capital gains if I sell my house and buy another?

A The short answer is yes, you do have to pay tax on any gain you make from selling your second property. Sadly, private residence relief is not available for a property that has been let for the whole time you have owned it, even if you are going to use the gain to buy a new home.

Can you sue someone for inheritance?

A few years ago, California recognized a new tort that allows plaintiffs to sue for intentionally interfering with an expected inheritance. ‘ The probate remedy refers to your rights as a family member, prior named beneficiary, or heir-at-law to bring a Trust or will lawsuit in court.

What happens if I pay more than 25000 into super?

Once the concessional contributions are in your super fund, they are taxed at a rate of 15%. You may need to pay extra tax if you exceed the concessional contribution cap. However, you may pay tax on them if you exceed your non-concessional contribution cap.

What happens if you put more than 25000 in super?

The short answer is, if you go over your concessional contributions cap, the excess amount is included in the amount of assessable income in your tax return and you pay tax on it at your marginal tax rate.

Can I put capital gains into super?

potentially reaching the maximum of $125,000. Therefore, by 2023, if you sold an asset such as an investment property and made a capital gain, you could contribute your rolled over amount directly into your superannuation and qualify for a tax deduction – offsetting the CGT on your asset sale.